Banking stocks dipped with Nifty PSU Bank index falling 1.7% after the government notified the ordinance that seeks to tackle non-performing loans in the sector.
A panel has recommended that the RBI should bring down CPI inflation to 4 per cent.
Sahara and its founder Subrata Roy have been under scrutiny for years over its financial products, including for possible money laundering.
The CFO will formulate the accounting policy of the bank, maintain the internal accounts and report financial results, and carry out corporate strategy functions like PF policies.
The central bank's tough new rules spell major changes in the competitive landscape for financial services audits.
Once these banks start showing losses, they will not be able to pay dividends to the government nor pay taxes, which will further aggravate the situation for the government as its return on investment as an investor would be very negligible for the next few years, says M V Subramanian.
ED and Directorate of Revenue Intelligence have detected a significant increase in the outflow of Indian money, specifically into four countries --Thailand, Dubai, Singapore and Hong Kong.
Finance Minister Arun Jaitley on Saturday said that retail inflation is expected to remain close to 5 per cent
"It is about time that India and its institutions are protected from these 'institution wreckers'," said Jaitley.
Despite its recent underperformance, gold must be a part of your portfolio.
Telecom service operator Airtel on Thursday urged the government not to charge high fees for allotting 5G spectrum, saying a faster roll out of the next-generation telecommunication network can have more benefits than collecting revenue in upfront cost. Sunil Bharti Mittal, chairman of Bharti Enterprises which runs the country's second largest telco, said that there are a variety of applications across sectors ranging from healthcare to video interactions, which will make 5G a technology to be introduced as soon as possible. "5G is important and that's why we keep on requesting the government to make the 5G as an enabler for hundreds of things that we develop in the country, to keep the spectrum at affordable pricing, to not load the industry too much," Mittal said at the Times Network India Economic Conclave.
There are 350,000 jewellers, of which 13,000 are BIS-certified.
The Supreme Court said on Thursday that it will hear "as and when required" a public interest litigation challenging the government's notification authorising 10 central agencies to intercept, monitor and decrypt any computer system.
In 2009, the UPA government, had announced a slew of measures to boost liquidity in NBFCs. These included a scheme for providing liquidity support to NBFCs having assets size of over Rs 100 crore through a SPV.
India is Asia's other bad debt headache.
In a first, a special National Investigation Agency court in Mumbai sentenced six accused in a 2009 fake currency case to life imprisonment, terming the possession and circulation of Indian counterfeit notes as an "act of terrorism".
'All that Mr Modi needed to do was to call Urjit Patel over for a cup of tea and ask him nicely, and this fuss would never have happened.'
Scams happen with high regularity because the price of getting caught is insignificant. Aggrieved investors run from the police to already clogged courts to find redress for issues for which financial regulators have been specifically set up. For over 3,750 years we have known what to do, but we don't do it, observes Debashis Basu.
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